Yes, underwriters are strict these days. And $100 a month will add to his debt load, so they might approve him for $100 less per month of a payment - if he's incredibly close to the line that might be a problem, but otherwise not.
How about $50 a month for 5 years? At least you'd be assured of getting the money eventually, and I doubt $50 a month is enough to disqualify him from the loan.
Or, like I said - is there some other asset he can give you? Trade cars? Give you a chunk of his retirement?
There is no buyout, Wonka. There is no equity in the house. It is a wash. The house will never be worth what we paid for it, unfortunately. Not in this market.
I have an email into the lender to verify what H told me. H said the lender will not respond to me via email, which makes me more skeptical. I just asked if the underwriter has truly seen the paperwork or has it even gotten to that point yet? If the lender refuses to give me the information I request then I guess we are truly getting no where.
My attorney suggested increasing the maintenance payments by about $50 per month, but since I have to pay taxes on that amount, I am really not interested in that option.
H won't put anything down on paper. He wants to work out the details of the repayment between the two of us. Which is shaky at best but I guess it's better than nothing.
And I don't want H's car. And he has nothing else to give me. I don't think he can pull out his retirement fund unless he has a "qualifying event". I don't know what that would entail.
I guess I will wait to hear from the lender.
WH
AT BD: WH 41, J 43; Bomb 2/5/2012 Two kids, one dog D Final 6/18/14 J marries OW 1/24/15 "No matter where you go, there you are"
LOL! That's funny Wonka. If only her father hadn't paid for it.
I mean I feel like I am living in Bizarro World. Who borrows $4000 from their boss and doesn't pay it back? Why would he submit a PMSA to the underwriter that I hadn't reviewed and approved? Why would he agree at mediation to pay $3000 that he can't pay? Why would OW's dad pay for an engagement ring for his daughter?
BTW as I write this the lender emailed me and he is being very helpful. It seems to me the underwriter hasn't even reviewed the final PMSA.
I think I might be getting to the bottom of this.
WH
AT BD: WH 41, J 43; Bomb 2/5/2012 Two kids, one dog D Final 6/18/14 J marries OW 1/24/15 "No matter where you go, there you are"
I mean I feel like I am living in Bizarro World. Who borrows $4000 from their boss and doesn't pay it back? Why would he submit a PMSA to the underwriter that I hadn't reviewed and approved? Why would he agree at mediation to pay $3000 that he can't pay? Why would OW's dad pay for an engagement ring for his daughter?
Sounds like your h has been making double batches of Kool-Aid and he's hoping you'll drink it all. I wouldn't believe one thing that comes out of his mouth. He never thought you would do your own investigative work and it's going to get very interesting and you know what? I would stand my ground unless you hear otherwise from the professionals, not your h.
Do not tell him that you've contacted the underwriter. Wait and see what else your silver tongued h has to say. Maybe you should make a batch of Kool-Aid and serve it up when it comes to visit. What flavor does he like? Have it on hand and when you give him the glass, smile and think about the fact that you are serving him up the real deal and his offering to you is nothing but a bunch of bs.
Sit quietly...the answers will come very shortly.
Sit quietly, the answers will reveal themselves when you least expect them to. The past is gone, the present is a gift and you need to focus on today, allow the future to reveal itself when it is ready.
I should have been a detective. I truly missed my calling.
It appears that H has been hiding the actual facts (I know...shocker). Well, I don't know if he has actually been HIDING the facts or if he just never really UNDERSTOOD the facts. Sometimes I think the wires in his brain are short-circuited and don't really connect.
According to the lender, specific repayment terms MUST be present in the PMSA because the underwriter is going to question HOW this money will be repaid. In the words of the lender H's language is too vague and broad and since the house will not be sold it leads to confusion as to how the funds will be distributed. Isn't that exactly what I told H last night? I do believe it was.
So either we have a specific repayment plan in place or the $3000 must be omitted entirely.
Oy veh.
WH
AT BD: WH 41, J 43; Bomb 2/5/2012 Two kids, one dog D Final 6/18/14 J marries OW 1/24/15 "No matter where you go, there you are"
I would advise your lawyer of these details and go from there. There is no point in you trying to explain to your h again because he's tuning you out because of his own agenda.
Sit quietly, the answers will reveal themselves when you least expect them to. The past is gone, the present is a gift and you need to focus on today, allow the future to reveal itself when it is ready.
